Mixed signals for automaker shares on sales day

Published 10:07 AM ET Sun, 11 Nov 2012
The Associated Press

NEW YORK -- Shares of the major automakers were mixed as the industry reported another month of strong sales.

General Motors Co. shares rose more than 2 percent after the company said increased car sales offset a decline in truck sales in September. Media reports also said hedge fund manager David Einhorn told attendees at a conference on value investing that GM shares are undervalued.

Ford shares fell after the Dearborn, Mich., automaker said its sales were flat because higher car sales couldn't make up for a decline in truck sales.